Looking for a solid credit card to use for your business expenses? One option is the Business Green Rewards Card from American Express, but it might not be your best choice. It’s a small business card that allows its users to earn reward points, but the number of points you’ll receive is low compared to much of the competition. It doesn’t offer a whole lot in the way of big-time travel perks, either.
Let’s take a look at the breakdown of the Business Green Rewards Card from American Express compared to alternative cards.
The Essentials of the Business Green Rewards Card from American Express
- APR: N/A (must be paid off in full each month)
- Annual Fee: $0 for the first year. After that, $95.
- Primary Feature: Gain membership rewards points for business expenses
What’s Interesting about the Business Green Rewards Card from American Express
At first glance, the Business Green Rewards Card from American Express has several enticing features. An account gives you the ability to assign a manager to track all business spending across your company, and there’s no fee to add additional employee cards. You can also connect your expenses directly to QuickBooks.
Furthermore, the American Express Business App allows users to add their receipts using mobile upload. A year-end summary of all your spending is available to you in an easy-to-read format. Plus, the card offers vehicle loss and damage insurance on rentals.
You can redeem Membership Rewards points on flights, prepaid hotel rooms and vacations booked through American Express Travel. You can also purchase items on Amazon.com, or buy gift certificates or gift cards with your points. A group of 1,000 points equals 1,000 miles when booking travel.
Things to Consider
Even with this card’s enticing features, it’s essential to consider that the rewards rates and introductory welcome bonus are not as high as you’ll find with other cards. Improving those features would make this card much more desirable, further justifying the annual fee. Additionally, since the Business Green Rewards Card is a charge card, it’s not an excellent choice for cardholders who need to finance their businesses because they’ll have to pay their balance in full each month. The bottom line, think carefully about whether this card is right for your business needs before choosing it.
How to Get the Most from this Card
Unlike credit cards, this charge card has no preset spending limit, so business owners have the freedom to purchase those big-ticket items when needed. Furthermore, remember to take advantage of the opportunity for cardholders to earn 15,000 Membership Rewards® points after spending $3,000 in eligible purchases with your card within the first three months of card membership. There’s more. Cardholders can earn one Membership Rewards® point for each dollar they spend on eligible purchases, and they can choose rewards from over 500 leading brands in travel, gift cards, merchandise, or entertainment. Terms and limitations apply. The takeaway, this card’s rewards may be small, but they add up fast. These are great offerings available to you for a $0 introductory annual fee for the first year, and then only $95, so don’t underestimate this card. Keep the benefits in mind as you examine whether or not the Business Green Rewards Card from American Express is the right choice for you.
Other Card Options That Might Interest You
If you aren’t won over by the lackluster rewards with the Business Green Rewards Card from American Express, we have a few other options that could be more worth your time. We recommend looking into both the Ink Business Preferred℠ Credit Card and the Capital One® Spark® Miles for Business. Both of these cards offer the same account management features, connection with Quickbooks and fee-free employee cards, as well as many additional perks. For example, you’ll pay no foreign transaction fees on either of these cards, unlike the 2.7% charged by the American Express Business Green Rewards Card.
The introductory offer on the Chase Ink Business Preferred Card is fantastic: 80,000 bonus points after you spend at least $5,000 in the first 3 months. In addition, you can earn 3 times the points on travel and other business categories up to $150,000 (then 1%). However, this card is a standard credit card, so it does come with a variable APR of 17.49% – 22.49%, but the annual fee is the same at $95.
With the Capital One Spark Business Miles credit card, you gain 2 times the miles on every purchase, every day. Their introductory offer is 50,000 bonus miles after spending $4,500 in the first 3 months, which is much easier to attain than the Business Green Rewards Card from American Express option. Cardholders also get up to $100 in credit for TSA PreCheck or Global Entry fees when you use your card. Plus, the annual fee is waived for the first year and costs $95 after that. The card’s rate is also competitive, at 18.49% variable APR.
The Final Word
Who would find the Business Green Rewards Card from American Express a good choice for the small-business operations? A person who needs a bare-bones credit card for their business expenses without all the fluff might find this card to his or her liking.
When looking at the overall picture, however, it’s difficult to sell this card over others on the market. Even some of the other options on the American Express roster have better offers. This card has very few tangible benefits over the competition, and because cardholders would be losing out to better rewards, we recommend shopping around for other cards before committing to this one.